The proceeds from the issue will finance Enel green projects in the renewables field, in smart grid technology, in sustainable mobility, smart lighting, energy efficiency and demand response initiatives;
The transaction is in line with the Group's financial strategy set out in the 2019-2021 Strategic Plan, which provides for the refinancing of 13.6 billion euros through 2021, including the issue of green bonds
Enel Finance International N.V. ("EFI"), an Enel Group finance company controlled by Enel S.p.A. ("Enel", rated BBB+ for S&P, Baa2 for Moody's, and BBB+ for Fitch), has successfully placed its third green bond on the European market, reserved for institutional investors and backed by a guarantee issued by Enel.
The issue amounts to a total of 1,000 million euros and provides for repayment in a single instalment at maturity on July 21, 2025 and the payment of a fixed-rate coupon equal to 1.500%, payable annually in arrears in the month of July as from 2019. The issue price has been set at 98.565% and the effective yield at maturity is equal to 1.736%. The settlement date for the issue is January 21st, 2019.
The green bond is expected to be listed on the regulated market of the Irish Stock Exchange, on the regulated market of the Luxembourg Stock Exchange and be admitted to trading on the multilateral trading facility "ExtraMOT PRO" organised and managed by Borsa Italiana. It is also expected that the green bond will be assigned ratings in line with those of Enel.
The transaction has received subscriptions amounting to more than 4.2 billion euros, with the significant participation of Socially Responsible Investors ("SRI"), enabling the Enel Group to continue to diversify its investor base.